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Worried About Consequences of Transferring Your BBL Funds to Another Bank? Don’t Be!

The one question I did get asked a lot during the lifetime of the Bounce Back Loan scheme, was “shall I transfer it out” when the funds finally dropped into an applicant’s bank account. Now you may ask yourself why someone who had just secured a Bounce Back Loan would want to move it to another account, well one reason was many banks had acquired a track record for approving BBL’s, paying them out to customers then out of the blue snatching them back. […]

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Two Bounce Back Loans for the Same Business! The Juicy Bits Revealed!

The rules of the Bounce Back Loan scheme did of course keep on getting changed as the scheme progressed and lockdowns continued.

However, when the scheme initially launched there was no system in place for a lender to check if one business owner had applied for and had been approved for and then had been paid out a Bounce Back Loan for their business. […]